Pennine Five (P5) is a commercial office development in Sheffield, England, located in the city centre near Tenter Street and Silver Street Head. Originally known as the Pennine Centre or Griffin House, the complex was built in the 1970s and served as the Midland Bank (later HSBC) regional headquarters until 2019. Following HSBC’s relocation, the site was acquired by RBH Properties, which launched a major redevelopment project to modernise the office space, introduce retail and leisure facilities, and create a new public plaza.[1][2]
The redevelopment has positioned Pennine Five as an innovation hub, incorporating state-of-the-art office spaces, digital infrastructure, and collaborative work environments aimed at fostering business growth and creativity.
History
Construction and HSBC Era (1973–2019)
Built between 1973 and 1975, the Pennine Centre[3] was designed as a major financial hub for Midland Bank, later taken over by HSBC. The development consists of five interconnected office buildings, with the tallest block reaching 165 ft (13 storeys).[³]
At its peak in the early 2000s, the site housed 3,500 HSBC employees and played a key role in banking operations, IT services, and secure storage. The complex was notable for its fortified design, which included 2ft-thick vault doors in the basement to store gold bullion and large sums of cash.[2]
Despite its size—230,000 sq ft across 44 floors—the development was relatively low-profile, positioned halfway down Sheffield’s northern slope and deliberately designed to be discreet.
HSBC vacated the site in 2019, moving to new headquarters in Sheffield city centre. The Pennine Centre was subsequently acquired by RBH Properties, marking the start of its transformation into Pennine Five.[4]
Central plaza with View of Block 4 at Pennine Five
Redevelopment
The redevelopment of Pennine Five has been structured into multiple phases, aimed at modernising the office space, introducing leisure and retail elements, and making the highly site accessible to the public for the first time.[1]
Phase 1 & 2 (Completed, 70% Let)
Corner view of Blocks 1 and 2 at Pennine Five
The first two phases of redevelopment have been completed, with businesses now occupying the newly refurbished office spaces. These upgrades have focused on:
Flexible, high-spec office spaces, designed for businesses of all sizes.[5]
Sustainability improvements, including energy-efficient systems and insulation.
Enhanced digital infrastructure, supporting modern workspaces.
Over 390 car parking spaces and 200+ cycle storage facilities.[1]
A £1.5 million public plaza, featuring landscaped greenery, seating areas, and a social hub.[1]
Phase 3 (Completing Soon)
The final phase of refurbishment is nearing completion, introducing:
100,000sq ft large floorplates suited to HQ-type operations
Retail and hospitality options within the complex.
High-tech digital infrastructure, designed to support emerging businesses, startups, and established enterprises alike.
This transformation marks a shift from a private, high-security banking site to an open, permeable, multi-purpose business and social hub for Sheffield.[2]
Architectural Features
Front view of Block 1 tower at Pennine Five, featuring the entrance to the secure underground car park.
Five interconnected buildings, originally designed for security and efficiency.
Historical use:Banking, IT operations, and secure storage.
Current use:Flexible office space, retail, and public amenities.
Innovation Hub and Business Growth
Unfurnished eighth-floor office space in Block 5 of Pennine Five, highlighting the open-plan layout and large windows with natural light.
Pennine Five is being developed as one of Sheffield’s leading innovation hubs, catering to tech-sector startups, SMEs, and larger enterprises.
Pennine Five has attracted several notable tenants, reinforcing its status as an innovation hub:
Phlux Technology: A University of Sheffield spinout specialising in infrared sensor technology for autonomous vehicles and advanced driver-assistance systems. In mid-2024, Phlux relocated its headquarters to a 3,692 sq ft workspace within Pennine Five, aligning with the city's Innovation Spine initiative.[6]
Sheffield BID: The Business Improvement District organisation moved its offices to the Spaces venue at Pennine Five, benefiting from modern, flexible city centre space to continue delivering services to local businesses.[7]
Sheffield College: The Sheffield College has expanded its presence at Pennine Five, now occupying six floors (over 22,000 sq ft) to support its growing adult education and training provision. The college’s adult learning centre at Pennine Five offers ESOL (English for Speakers of Other Languages), maths, digital skills, and employability courses to around 3,000 learners.
The site integrates modern workspace trends, focusing on:
Collaboration between businesses, with shared meeting areas and event spaces.
Technology-driven workplaces, integrating high-speed internet and smart building features.
Sustainability and well-being, with green spaces incorporated into the site.
RBH Properties has prioritised sustainability and digital innovation, ensuring that Pennine Five meets the evolving needs of modern businesses.
Impact on Sheffield City Centre
The redevelopment of Pennine Five aligns with Sheffield’s broader regeneration efforts[8], particularly around West Bar[9]and the city centre. The project is positioned as one of Sheffield’s largest commercial transformations, offering modern workspaces, co-working areas, and social spaces.[4]
By establishing itself as an innovation hub[10], Pennine Five contributes to Sheffield’s growing reputation as a centre for business innovation[11], supporting dynamic businesses, fostering collaboration, and integrating sustainable design principles.
RBH Properties has focused on sustainability, well-being, and flexibility, incorporating public spaces, green areas, and digital infrastructure to meet contemporary business and lifestyle needs.
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